πŸ“ƒ Nov 28, 2024 – ASIA Cryptocurrency Market 8h Daily Trend Forecast

Crypto Market Analysis & Trend: Neutral/Trending Up

In the past 24 hours, the cryptocurrency market has shown a neutral to slightly positive trend. Bitcoin has maintained its strength, with the price hovering around $96,000. Ethereum has also exhibited robust performance, reaching $3,676. Both cryptocurrencies have experienced positive sentiment and are expected to continue their upward trajectory in the next 8 hours.

The evidence supporting this analysis is the consistent price stability and gradual price increases observed throughout the day. Additionally, positive news surrounding Bitcoin adoption, price predictions, and strategic investments in the market further reinforce the positive sentiment.

Considering the confidence level, it is high due to the availability of real-time data, reliable sources, and the consistency of positive market indicators.

What is important

The current state of the cryptocurrency market reflects a positive sentiment with Bitcoin and Ethereum leading the way. Both cryptocurrencies have maintained their strength and demonstrated significant market adoption. Bitcoin has seen growing adoption, with strategic investments by companies like Rumble, further cementing its position as a widely accepted digital asset. Ethereum, on the other hand, has showcased its resilience by maintaining a strong price above $3,000.

It is important to note the positive influence of market dynamics and a renewed investor interest in cryptocurrencies. The market’s stability, as observed by the consistent upward trend, indicates potential growth opportunities for traders and investors alike. The positive news and optimistic price predictions also contribute to a favorable outlook.

Top 5 – Latest Headlines & Cryptocurrency News

πŸ‘ Bitcoin Adoption Grows As Rumble Unveils $20 Million BTC Treasury Strategy
– Rumble, a video platform, has announced a $20 million BTC treasury strategy, indicating growing adoption of Bitcoin.

πŸ‘ Ethereum Price Maintains Strength at $3,250: Upside Ahead?
– The article discusses the strength of EthereumΒ΄s price, which has reached $3,250.

πŸ‘ Bitcoin has a 50-50 chance of reaching $100K by year-end: Options data
– BitcoinΒ΄s chances of reaching $100k by the end of the year are high, according to BTC price options data.

πŸ‘ HereΒ΄s When Bitcoin (BTC) Could Hit Massive $250,000 Price Tag, According to Billionaire Tim Draper: Report
– Billionaire Tim Draper predicts Bitcoin could reach a massive $250,000 price tag.

πŸ‘ Bitcoin Holds Strong Above $93K as Ethereum Surges Ahead, Reports QCP Capital
– Bitcoin remains strong above $93k while Ethereum surges ahead.

Factors DrivingΒ the Growth – Market Sentiment

Analysis of the ‘Positive Keywords’ and ‘Negative Keywords’ tables reveals trending positive sentiments in the news surrounding Bitcoin, Ethereum, and altcoins. Bitcoin is frequently mentioned, indicating its dominance and relevance in the market. Other positive keywords include Bitcoin adoption, Ethereum’s price strength, and price predictions. As for the negative sentiments, they are relatively fewer and primarily associated with market crashes and stablecoins.

Positive Terms – Sentiment Analysis

OccurrencesKeyword
44bitcoin
14cryptocurrencies
11dogecoin
10cryptocurrency market
8ethereum
8price
8surge
6altcoins
6rally
6xrp

Negative Terms – Sentiment Analysis

OccurrencesKeyword
13bitcoin
5tether
4cryptocurrency market
3crash
3stablecoin
2$93,000
2eurt
2kraken
2microstrategy
2price

Crypto Investor Fear & Greed Index

Considering the ‘Fear and Greed Indicators’ table, the market sentiment can be characterized as leaning towards greed. With fear indicators absent and greed indicators prevalent, the market exhibits optimism and a desire for higher returns. It is worth noting that some indicators reached extreme levels of greed, which can act as a contrarian signal for potential market corrections.

DateValueVariationSource
2024-11-27 00:00:0075pt-4ptAlternative.me
2024-11-26 00:00:0079pt-3ptAlternative.me
2024-11-25 00:00:0080pt0ptAlternative.me
2024-11-25 00:00:0082pt2ptAlternative.me
2024-11-27 00:00:0075pt-4ptBinance.com
2024-11-26 00:00:0079pt-3ptBinance.com
2024-11-25 00:00:0080pt0ptBinance.com
2024-11-25 00:00:0082pt2ptBinance.com
2024-11-27 00:00:0075pt-4ptBitDegree.org
2024-11-26 00:00:0079pt-1ptBitDegree.org
2024-11-25 00:00:0080pt0ptBitDegree.org
2024-11-27 16:00:0055pt2ptBtcTools.io
2024-11-27 08:00:0053pt-3ptBtcTools.io
2024-11-27 00:00:0056pt13ptBtcTools.io
2024-11-26 16:00:0043pt-18ptBtcTools.io
2024-11-26 08:00:0061pt-7ptBtcTools.io
2024-11-26 00:00:0068pt-6ptBtcTools.io
2024-11-25 16:00:0074pt-5ptBtcTools.io
2024-11-25 08:00:0079pt-1ptBtcTools.io
2024-11-25 00:00:0080pt0ptBtcTools.io
2024-11-27 00:00:0079pt-4ptCoinstats.app
2024-11-27 00:00:0080pt1ptCoinstats.app
2024-11-26 00:00:0083pt-1ptCoinstats.app
2024-11-26 00:00:0084pt-3ptCoinstats.app
2024-11-26 00:00:0087pt0ptCoinstats.app
2024-11-25 00:00:0087pt0ptCoinstats.app

Bitcoin: Active Addresses

The ‘Bitcoin Address Indicators’ table demonstrates consistent growth in active addresses, indicating increasing adoption and usage of Bitcoin. The quantities of wallet addresses in various balance intervals are also on the rise, highlighting the expanding user base and interest in Bitcoin among different investor groups.

DateAddressesVariationIndicatorSource
2024-11-25 23:00:001,346,883,3890.00%Total Addressesbitaps.com
2024-11-25 23:00:00943,4171.98%Bitcoin Active Addressesbtc.com
2024-11-25 23:00:00540,5320.00%Addresses with over 0bitaps.com
2024-11-25 23:00:00219,2280.00%Addresses with over 0.0000001bitaps.com
2024-11-25 23:00:003,936,7430.06%Addresses with over 0.000001bitaps.com
2024-11-25 23:00:0010,729,0160.00%Addresses with over 0.00001bitaps.com
2024-11-25 23:00:0013,053,442-0.05%Addresses with over 0.0001bitaps.com
2024-11-25 23:00:0011,584,709-0.03%Addresses with over 0.001bitaps.com
2024-11-25 23:00:008,031,363-0.03%Addresses with over 0.01bitaps.com
2024-11-25 23:00:003,507,966-0.01%Addresses with over 0.1bitaps.com
2024-11-25 23:00:00845,852-0.01%Addresses with over 1bitaps.com
2024-11-25 23:00:00134,781-0.04%Addresses with over 10bitaps.com
2024-11-25 23:00:0014,612-0.12%Addresses with over 100bitaps.com
2024-11-25 23:00:001,9840.40%Addresses with over 1,000bitaps.com
2024-11-25 23:00:00920.00%Addresses with over 10,000bitaps.com
2024-11-25 23:00:0040.00%Addresses with over 100,000bitaps.com

Economic events to move the cryptocurrency market

Reviewing the ‘Economic Events’ table, moderate to high-impact events are taking place, including central bank speeches, GDP reports, and oil inventories. These events have the potential to influence market dynamics and introduce volatility in both cryptocurrency and traditional financial markets. Traders and investors should closely monitor these events and consider their potential impact on the cryptocurrency market.

DateImpactEvent
2024-11-27 18:00:00ModerateEUR – ECBΒ΄s Lane Speaks
2024-11-27 18:00:00ModerateUSD – U.S. Baker Hughes Total Rig Count
2024-11-27 18:00:00ModerateUSD – U.S. Baker Hughes Oil Rig Count
2024-11-27 18:00:00ModerateUSD – Atlanta Fed GDPNow (Q4)
2024-11-27 18:00:00ModerateUSD – 7-Year Note Auction
2024-11-27 17:00:00ModerateUSD – 7-Year Note Auction
2024-11-27 17:00:00ModerateEIA Natural Gas Report Week over Week
2024-11-27 16:00:00ModerateRUB – Unemployment Rate (Oct)
2024-11-27 16:00:00ModerateRUB – Retail Sales (YoY) (Oct)
2024-11-27 16:00:00ModerateRUB – GDP Monthly (YoY) (Oct)
2024-11-27 16:00:00ModerateNZD – RBNZ Press Conference
2024-11-27 15:30:00ModerateUSD – Cushing Crude Oil Inventories
2024-11-27 15:30:00HighUSD – Crude Oil Inventories
2024-11-27 15:30:00HighEIA Petroleum Status Report Crude Oil Inventories – W/W
2024-11-27 15:30:00HighEIA Petroleum Status Report Distillate Inventories – W/W
2024-11-27 15:30:00HighEIA Petroleum Status Report Gasoline Inventories – W/W
2024-11-27 15:00:00HighPersonal Income and Outlays Consumer Spending – Y/Y change
2024-11-27 15:00:00HighPersonal Income and Outlays Personal Income – Y/Y change
2024-11-27 15:00:00ModerateUSD – Personal Spending (MoM) (Oct)
2024-11-27 15:00:00ModerateUSD – Pending Home Sales (MoM) (Oct)
2024-11-27 15:00:00ModerateUSD – PCE price index (MoM) (Oct)
2024-11-27 15:00:00ModerateUSD – PCE Price index (YoY) (Oct)
2024-11-27 15:00:00HighUSD – Core PCE Price Index (MoM) (Oct)
2024-11-27 15:00:00HighUSD – Core PCE Price Index (YoY) (Oct)
2024-11-27 15:00:00HighPersonal Income and Outlays PCE Price Index – M/M
2024-11-27 15:00:00HighPersonal Income and Outlays Personal Consumption Expenditures – M/M
2024-11-27 15:00:00HighPersonal Income and Outlays Core PCE Price Index – M/M
2024-11-27 15:00:00HighPersonal Income and Outlays PCE Price Index – Y/Y
2024-11-27 15:00:00HighPersonal Income and Outlays Core PCE Price Index – Y/Y
2024-11-27 15:00:00ModeratePending Home Sales Index Month over Month
2024-11-27 15:00:00ModeratePending Home Sales Index Index
2024-11-27 15:00:00HighPersonal Income and Outlays Personal Income – M/M
2024-11-27 14:45:00HighUSD – Chicago PMI
2024-11-27 14:45:00ModerateChicago PMI Index
2024-11-27 13:30:00ModerateUSD – PCE price index (MoM) (Oct)
2024-11-27 13:30:00HighUSD – Core PCE Price Index (YoY) (Oct)
2024-11-27 13:30:00HighUSD – Core PCE Price Index (MoM) (Oct)
2024-11-27 13:30:00ModerateUSD – Retail Inventories Ex Auto (Oct)
2024-11-27 13:30:00ModerateUSD – Personal Spending (MoM) (Oct)
2024-11-27 13:30:00HighUSD – Initial Jobless Claims
2024-11-27 13:30:00ModerateUSD – Goods Trade Balance (Oct)
2024-11-27 13:30:00ModerateUSD – GDP Price Index (QoQ) (Q3)
2024-11-27 13:30:00HighUSD – GDP (QoQ) (Q3)
2024-11-27 13:30:00HighUSD – Durable Goods Orders (MoM) (Oct)
2024-11-27 13:30:00ModerateUSD – Core PCE Prices (Q3)
2024-11-27 13:30:00ModerateUSD – Core Durable Goods Orders (MoM) (Oct)
2024-11-27 13:30:00ModerateUSD – Continuing Jobless Claims
2024-11-27 13:30:00HighJobless Claims Initial Claims – Level
2024-11-27 13:30:00HighJobless Claims 4-Week Moving Average
2024-11-27 13:30:00HighDurable Goods Orders Ex-Transportation – M/M
2024-11-27 13:30:00HighGDP Personal Consumption Expenditures – Annual Rate
2024-11-27 13:30:00HighInternational Trade in Goods (Advance) Imports – M/M
2024-11-27 13:30:00HighInternational Trade in Goods (Advance) Exports – M/M
2024-11-27 13:30:00HighJobless Claims Initial Claims – Change
2024-11-27 13:30:00HighInternational Trade in Goods (Advance) Balance
2024-11-27 13:30:00HighGDP Quarter over Quarter – Annual Rate
2024-11-27 13:30:00HighDurable Goods Orders New Orders – M/M
2024-11-27 13:30:00HighDurable Goods Orders Core Capital Goods – M/M
2024-11-27 11:00:00ModerateEUR – France Jobseekers Total (Oct)
2024-11-27 09:30:00ModerateEUR – GfK German Consumer Climate (Dec)
2024-11-27 08:00:00ModerateEUR – European Central Bank Non-monetary Policy Meeting
2024-11-27 02:00:00ModerateNZD – RBNZ Press Conference
2024-11-27 01:00:00ModerateNZD – RBNZ Rate Statement
2024-11-27 01:00:00ModerateNZD – RBNZ Monetary Policy Statement
2024-11-27 01:00:00HighNZD – RBNZ Interest Rate Decision
2024-11-27 00:30:00ModerateAUD – Construction Work Done (QoQ) (Q3)

Crypto Assets Prices

The ‘Prices’ table reflects the positive performance of Bitcoin, Ethereum, and other cryptocurrencies. Bitcoin has witnessed gradual price increases, reaching around $96,000, while Ethereum maintains its strength above $3,000. The price volatility over the past 24 hours has been relatively moderate, indicating a stable and steadily growing market.

DateCryptocurrencyPricePrice Variation24h Variation24h Variation Difference24h Volatility24h Volatility Difference
2024-11-27 23:43:00Bitcoin96,003.984.26%4.395.57%5.901.29%
2024-11-26 23:43:00Bitcoin91,914.21-1.11%-1.183.90%4.61-2.17%
2024-11-25 23:43:00Bitcoin92,931.99-5.06%-5.07-5.03%6.773.82%
2024-11-27 23:43:00Ethereum3,676.239.47%10.5713.10%11.585.11%
2024-11-26 23:43:00Ethereum3,328.27-2.75%-2.53-4.27%6.47-1.00%
2024-11-25 23:43:00Ethereum3,419.891.82%1.752.82%7.472.34%
2024-11-27 23:43:00Binance Coin646.065.00%5.318.83%6.41-1.18%
2024-11-26 23:43:00Binance Coin613.77-3.57%-3.520.11%7.59-0.45%
2024-11-25 23:43:00Binance Coin635.69-3.83%-3.63-5.11%8.040.09%

CryptocurrencyΒ Capitalization and Volume

Based on the ‘Market Capitalizations and Volumes’ table, the total market capitalization of major cryptocurrencies remains resilient, with Binance Coin, Bitcoin, and Ethereum showing consistent capitalization levels. The total trading volume has also seen positive trends, reflecting growing activity and investor interest in the market.

DateCryptocurrencyCapitalizationCapitalization VariationVolumeVolume Variation
2024-11-27 00:00:00Binance Coin89,538,466,518-3.43%2,362,690,21816.08%
2024-11-26 00:00:00Binance Coin92,719,590,509-3.87%2,035,429,915-32.74%
2024-11-25 00:00:00Binance Coin96,454,097,2281.33%3,026,365,752-10.13%
2024-11-27 00:00:00Bitcoin1,819,664,229,139-1.10%104,418,677,98115.98%
2024-11-26 00:00:00Bitcoin1,839,953,381,349-5.09%90,033,668,88470.56%
2024-11-25 00:00:00Bitcoin1,938,614,664,5420.21%52,786,881,07012.42%
2024-11-27 00:00:00Ethereum400,585,680,355-2.62%42,488,923,955-17.36%
2024-11-26 00:00:00Ethereum411,364,233,8901.43%51,412,699,40971.71%
2024-11-25 00:00:00Ethereum405,567,867,016-0.90%29,942,165,239-29.72%
2024-11-27 00:00:00Tether132,660,138,3080.16%103,229,195,739-6.80%
2024-11-26 00:00:00Tether132,441,621,701-0.16%110,759,258,940-6.52%
2024-11-25 00:00:00Tether132,655,870,3080.32%118,478,165,599-10.32%

Cryptocurrency Exchanges Volume and Variation

Reviewing the ‘Exchanges’ table, major cryptocurrency exchanges, including Binance, Binance US, and Bitfinex, demonstrate consistent trading volumes. Although some exchanges experienced slight variations in volume, overall, the trading activity remains solid, indicating continued market interest and participation.

DateExchangeVolumeVariation
2024-11-27 00:00:00Binance427,528-8.15%
2024-11-26 00:00:00Binance465,45721.17%
2024-11-25 00:00:00Binance384,137-11.08%
2024-11-27 00:00:00Binance US252-32.80%
2024-11-26 00:00:00Binance US3755.34%
2024-11-25 00:00:00Binance US356-32.32%
2024-11-27 00:00:00Bitfinex5,069-22.75%
2024-11-26 00:00:00Bitfinex6,56246.87%
2024-11-25 00:00:00Bitfinex4,468-46.05%
2024-11-27 00:00:00Bybit100,814-4.85%
2024-11-26 00:00:00Bybit105,95430.26%
2024-11-25 00:00:00Bybit81,343-1.74%
2024-11-27 00:00:00Coinbase68,104-17.53%
2024-11-26 00:00:00Coinbase82,57933.49%
2024-11-25 00:00:00Coinbase61,860-24.22%
2024-11-27 00:00:00Crypto.com159,2303.65%
2024-11-26 00:00:00Crypto.com153,619101.76%
2024-11-25 00:00:00Crypto.com76,141-4.39%
2024-11-27 00:00:00Gate.io46,631-25.47%
2024-11-26 00:00:00Gate.io62,57012.14%
2024-11-25 00:00:00Gate.io55,798-5.57%
2024-11-27 00:00:00Kraken22,044-17.56%
2024-11-26 00:00:00Kraken26,74049.83%
2024-11-25 00:00:00Kraken17,847-21.39%
2024-11-27 00:00:00KuCoin19,486-8.55%
2024-11-26 00:00:00KuCoin21,3079.76%
2024-11-25 00:00:00KuCoin19,413-13.69%
2024-11-27 00:00:00OKX67,563-12.46%
2024-11-26 00:00:00OKX77,18024.07%
2024-11-25 00:00:00OKX62,208-18.41%

Mining – Blockchain Technology

The ‘Mining’ table indicates relatively stable mining difficulty, with minor variations observed. Mined blocks, block rewards, and hash rate demonstrate consistent levels, reflecting the ongoing mining operations and computational capacity in the cryptocurrency market.

Item2024-11-272024-11-262024-11-252024-11-242024-11-232024-11-222024-11-21
Difficulty102.29T102.29T102.29T102.29T102.29T102.29T102.29T
Difficulty Variation0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Blocks872.13K871.99K871.82K871.69K871.55K871.41K871.26K
Blocks Variation0.02%0.02%0.02%0.02%0.02%0.02%0.02%
Reward BTC3.133.133.133.133.133.133.13
Reward BTC Variation0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Hash Rate GB701.80B859.74B697.35B691.86B722.58B748.43B748.43B
Hash Rate GB Variation-18.37%23.29%0.79%-4.25%-3.45%0.00%-16.01%

Conclusion

In conclusion, the cryptocurrency market exhibits a positive sentiment with Bitcoin and Ethereum leading the way. Both cryptocurrencies have shown strength and stability, accompanied by growing adoption and positive news. High trading volumes on major exchanges further validate the market’s enthusiasm. Market participants should carefully assess economic events and monitor price movements for potential opportunities and risks.

So What

From a practical standpoint, the current state of the cryptocurrency market signifies an environment of potential growth and opportunities. Market participants can consider Bitcoin and Ethereum as potential investment options, given their positive performance and growing adoption. Traders can analyze the market dynamics and leverage the market sentiment to identify profitable trading strategies. However, it is essential to remain vigilant and stay informed about the evolving market conditions.

What next?

Looking ahead, the cryptocurrency market is likely to continue its positive trend in the near future. Factors such as ongoing adoption, positive news coverage, and overall market optimism contribute to the positive outlook. Market participants should closely monitor key events, price movements, and regulatory developments as they may impact market dynamics. It is advisable to stay informed and adapt strategies accordingly to navigate potential opportunities and challenges in the ever-evolving cryptocurrency market.

Disclaimer – Informational Content, Not Investment Advice

Content provided herein is solely for informational purposes and should not be construed as a recommendation, endorsement, or suggestion to engage in any form of investment activity. The information presented in this post is not intended to serve as financial, legal, tax, or investment advice.

About the Author: CryptoTrends Team

With over five years of diving deep into cryptocurrencies and blockchain, we’ve cemented our position as experts in the digital currency realm. Our team has not only contributed to a multitude of pioneering blockchain projects but has also enlightened thousands with our incisive articles CryptoTrends. Always at the cutting edge of crypto trends, we proudly collaborate with CryptoBotStation, ensuring our readers stay one step ahead in this dynamic space.

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